Avnet (AVT) shares surged 6.99% in pre-market trading on Wednesday after the company reported fiscal fourth-quarter results that substantially exceeded Wall Street expectations.

The electronics distributor posted adjusted earnings per share of $2.28, crushing the IBES estimate of $1.77. Sales also came in well above forecasts, reaching $8,295.4 million compared to the consensus estimate of $7,519 million. The company additionally reported net income of $126.579 million and operating income of $231 million for the quarter.

Investors reacted swiftly to the top- and bottom-line beats, sending the stock sharply higher in pre-market action as the robust quarterly performance reignited buying interest.